June 23, 2016
On June 17–19, the SDK.finance team presented a loyalty program solution at BNP Paribas International Hackathon weekend in Warsaw.
When you mix the bold innovation of today’s tech startups with the insights and resources of a forward-thinking banking group, amazing things happen. BNP Paribas is committed to working side by side with today’s savviest tech entrepreneurs to unlock creativity and apply breakthrough solutions to real-life situations in order to make life easier for customers.
The BNP Paribas International Hackathon brought out the best FinTech startups in an atmosphere of friendship. The hackathon took place simultaneously across eight cities (San Francisco, Istanbul, London, Rome, Warsaw, Brussels, Berlin and Paris).
The SDK.finance team presented its solution in Warsaw. The team had privileged access to external experts as well as a unique suite of resources to help them prototype: fresh customer insights, a sandbox API, as well as top experts ranging from marketing executives to IT architects.
The BNP Paribas API Sandbox allows to easily create financial applications that access bank, customer, account and transaction resources. BNP Paribas offers a large amount of anonymized data for the startups to shape a real-life solution. Open Bank Project was the technological partner of this competition.
The integration of BNP Paribas databases and SDK back-end with Open Bank Project allowed them to provide a full-fledged loyalty program for the bank’s clients during one weekend.
The face of the bank is changing and customers demand more from their chosen bank than just traditional banking services. SDK.finance has developed a new solution for banks named Loyalty Net. It is an addition to the bank account of the user which displays all discount options and loyalty offers and tracks the money saved.
The bank gains a higher loyalty of existing customers and creates new traction through the merchants that are part of the system. Loyalty Net allows all the clients of the bank to be a part of a new ecosystem – all in one account. It is simply enough for a customer to open a bank account with BNP Paribas and get an access to all the privileges of Loyalty Net.
Loyalty functionality is fulfilled on our software. The only one thing we need is the data exchange with BNP via API. All customer data is stored on the bank's side. It is 100% secure. It means that we can integrate it to the BNP Paribas systems with the Open Bank Project within one week. It should be noticed that this solution is highly customizable to reflect the changing needs of the retailers, BNP Paribas and its customers, commented SDK.finance CTO Pavlo Sidelov.
This hackathon was a great win-win event for all participants. BNP Paribas got easy access to ready-to-scale product innovations and validated disruptive business models. They met new products and potential partnerships with new high-growth businesses which demonstrated new opportunities for the bank. FinTech companies like SDK.finance and Open Bank Project got the possibility to demonstrate the functionality and scalability of their solutions. It was a mutual enrichment event where top FinTech players shared their experiences and knowledge on how to develop new products in the fastest way.
SDK.finance is planning to organize its own hackathon for FinTech developers to demonstrate the opportunities of its multi-product platform. A wide variety of payment products can be built using SDK.finance’s platform, including payment systems, e-wallets, payment processing, P2P money transfers, gift & prepaid cards, currency exchange, card-to-card payments, mobile bank and Internet banking.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries. It helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance.
About the Open Bank Project
The Open Bank Project is an open-source API and app store for banks that empowers financial institutions to securely and rapidly enhance their digital offerings using an ecosystem of third-party applications and services.
D-RAFT is dedicated to fully supporting big companies in finding ready-to-scale startups and turning their technologies and products into new businesses. The company is helping corporations and startups grow together.